Borealis has announced a strategic partnership with BlueAlp, a chemical recycling technology company based in Eindhoven, the Netherlands. As part of the agreement, Borealis will transfer its majority stake in Renasci, a chemical recycling company located in Ostend, Belgium, to BlueAlp. In return, Borealis will acquire a 10 percent share in BlueAlp to support the company’s future growth and expansion.

With this agreement, BlueAlp will move from an operational support role to directly managing the plant. This step is expected to speed up technology development, strengthen the production of high-quality circular feedstock, and further enhance BlueAlp’s technology licensing offering.

Since investing in Renasci, Borealis has played a key role in developing one of the few active chemical recycling plants in Europe. Following the new agreement, BlueAlp will lead the next stage of Renasci’s growth and further improve its operations, while Borealis will continue to focus on developing customer solutions using chemically recycled materials.

Valentijn de Neve, Chief Executive Officer of BlueAlp, said that Borealis’s support comes at an important time for the chemical recycling sector, as rapid capacity expansion is needed to meet recycled content targets. He added that Borealis’s market knowledge and materials expertise will support BlueAlp’s growth and help convert more plastic waste into high-quality circular feedstock.

Stefan Doboczky, Chief Executive Officer of Borealis, said that strengthening the partnership with BlueAlp by combining assets and technology will speed up progress in chemical recycling across the industry. He added that the agreement will allow Borealis to offer customers a wider range of polymers made from chemically recycled feedstock. According to Doboczky, the transaction supports Borealis’s We4Customers strategy by helping customers achieve their sustainability goals while strengthening the company’s focus on innovation and operations.